You have the power to appoint an executor, who will administer your affairs after your death. However, it must be emphasized that you should appoint someone trustworthy and impartial to honour the terms of your will. In Peninsular Malaysia, the procedural rules on applications for Grant of Probate and Grant of Letters of Administration for the estate of a deceased, as well as the powers of executors and administrators are governed by the Probate and Administration Act 1959.

By making a will, you can also set up a testamentary trust. A testamentary trust is provided for in a will, whereby the testator appoints a trustee to manage the funds in the testamentary trust during the trust period until the beneficiary is eligible to receive the funds. Such trust will only come into effect upon your death. A testamentary trust is particularly useful if you have children who have yet to attain the age of eighteen (18). You may appoint and/or elect anyone as a trustee, but he or she should be a person whom you think will act in the best interest of your beneficiaries. Your trustee will also be subjected to the responsibilities imposed by the Trustee Act 1949. However, if the person you appointed as a trustee refuses to take on the role, another person may volunteer, or the court will appoint another trustee under Section 45(1)(a) of the Trustee Act 1949 on its own.

With a will, you may also nominate a guardian to take care for your minor children’s wellbeing. The guardian will administer your assets for your children until they attain the age of majority. Once your children reach the age of majority, the guardian must transfer all of the property to your children. However, if the children pass away before attaining the age of majority, all of the assets held in guardianship for them will form part of their estate.

The division of assets among family members sometimes entails a myriad of emotions, with most mired in animosity and bitterness. By having a will which sets out your intended desires, this may help to minimise, if not avoid, family conflicts and speculation over what you “would have” set out in your will.

Contrary to common belief, all estates must go through the court probate process in order to have the assets duly transferred to the beneficiaries, will or without a will. However, the time taken to obtain a Grant of Probate for a deceased’s estate is relatively shorter in comparison with an application for Grant of Letters of Administration.

The ability to support a charity or an organisation, even after your passing, is also an excellent reason to have a will because it allows your legacy to live on and reflect your values and interests.